Analyst: on-chain indicators show BTC may have bottomed out, PlanB: If BTC shows a V-turn now, it proves we are still in Bull Market

Bitwise Europe Research Director Andre Dragosch analyzed yesterday (26th) and pointed out that although the cryptocurrency market experienced a severe decline on February 25, current on-chain data indicates that BTC may have already reached a stage bottom. (Previous context: BTC flash crash, what signals did traders who escaped the top early find?) (Background: Cobo Shenyu: If the US does not establish BTC reserves this year, this round of the Bull Market may be over) The cryptocurrency market has been tumbling, with BTC hitting a low of Long Wick Candle at $82,236 in the early morning after US President Trump threatened to impose a 25% tariff on imports from the European Union, marking a new low since mid-November last year. This has shaken the confidence of long positions, with many investors lamenting on social platforms whether the Bull Market has already ended. Bitwise Research Director: on-chain data shows that BTC may have bottomed out In response, Bitwise Europe Research Director Andre Dragosch analyzed yesterday (26th) and pointed out that although the cryptocurrency market experienced a severe decline on February 25, current on-chain data shows that BTC may have reached a stage bottom: The Market Cap of the current cryptocurrency market hovers around 2.7 trillion US dollars, evaporating nearly 1 trillion US dollars compared to its peak in December 2024. Several on-chain indicators indicate that Tuesday's market sell-off may mark a temporary bottom. For example, the investment sentiment in the cryptocurrency market has dropped to its lowest level since August last year, coinciding with the time of the Yen Arbitrage Close Position trade, when the price of BTC was about $49,000, forming a local bottom at that time. In addition, the market sentiment index has also issued a massive reverse buy signal, indicating relatively limited downside risk, with considerable prospects for returns at this time of purchase. These indicators are crucial for identifying potential market bottoms and also indicate that BTC may be approaching a key turning point. PlanB: If there is a V-shaped rebound next week, it proves that we are still in a Bull Market Additionally, PlanB, the developer of the S2F model and a well-known cryptocurrency analyst, also posted on social platform X yesterday, stating that if a V-shaped rebound occurs after this dip, it proves that we are still in a Bull Market: If we can see a V-shaped recovery after this dip (expected next week), then that confirms that we are still in a bull market. Bull markets are full of -20% -30% dips, followed by sharp V-shaped recoveries. pic.twitter.com/uKi8GydAha — PlanB @100trillionUSD February 26, 2025 Will there be another altcoin season? On the other hand, CryptoQuant founder Ki Young Ju recently expressed his personal opinion on platform X, suggesting that the era of big pumps has come to an end, and most altcoins may not experience the previous big pump frenzy. This will be a selective rise of altcoins. As for the altcoins that may perform prominently this year, he pointed out that these coins may need the following factors to drive them: Altcoins with potential for Spot ETF approval Continuous attention attractors Revenue-generating projects Altcoins Likely to Outperform in 2025: 1. Potential ETF approvals 2. Sustainable attention drivers 3. Revenue-generating projects The era of everything pumping is over. It’s a selective altseason—most altcoins won’t make it. — Ki Young Ju @ki_young_ju February 25, 2025 Related reports Alpha Gold》How to play Odin.Fun? BTCrune welcomes 'AMM+pump.fun', $ODINDOG soars 18 times in a single day US consumer confidence sees the largest drop in 3 and a half years! BTC Long Wick Candle Long Wick Candle 86,000 USD, Tesla plummets 8% in European sales Powell, Chairman of the Federal Reserve: BTC is like digital gold; meme coin rewards are linked to BTC prices〈Analyst: on-chain indicators show that BTC may have bottomed out, PlanB: If BTC shows a V-turn, it proves that we are still in a Bull Market〉This article was first published on the dynamic BlockTempo “Dynamic Trend-The most influential Blockchain news media”.